1. Marketing is a process of understanding customer needs and wants and delivering value through products and services to satisfy those needs. 2. The core concepts of marketing include understanding needs, wants, and demands; developing offers in the form of products, services, and experiences to provide value and satisfaction to customers; and managing exchange relationships. 3. Marketing management aims to achieve organizational goals by selecting target customer segments and building profitable relationships with them through superior customer value and satisfaction. This involves understanding customer perceived value and satisfaction and retaining customers through loyalty over their lifetime.